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U.S. stock futures point lower on Tuesday, the first day of a critical two-day meeting of the Federal Reserve, and ahead of quarterly earnings from tech giant Apple; the earnings calendar also includes reports from Merck, Procter & Gamble, Mastercard and AMD; Capital One says a hacker got access to the personal information of more than 100 million of its credit card customers and applicants.

1. -- Stock Futures Fall Ahead of Fed, Apple Earnings

U.S. stock futures pointed lower on Tuesday, the first day of a critical two-day meeting of the Federal Reserve, and ahead of quarterly earnings from tech giant Apple (AAPL - Get Report) .

Contracts tied to the Dow Jones Industrial Average declined 50 points, futures for the S&P 500 were down 6.55 points, and Nasdaq futures fell 28 points.

The Federal Reserve is likely to announce Wednesday afternoon that it is cutting rates by 25 basis points, the first reduction in a decade. Despite U.S. GDP growth of more than 2% and a strong jobs market, Chairman Jerome Powell and his Fed colleagues are up against a trade war between the U.S. and China that has impacted global economic growth and slowed domestic corporate profits, and inflation that remains below the central bank's target level.

Trade negotiations between the U.S. and China will resume Tuesday in Shanghai. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer will meet with a delegation led by China's economy czar, Vice Premier Liu He. Expectations are low that any breakthroughs will be made during these latest rounds of talks.

"The same issues that caused the talks to break down are still there," said Julian Evans-Pritchard of Capital Economics.

"Neither side seems any closer to offering major concessions," said Evans-Pritchard. "It's very hard to see how they can reach a deal this time if they were unable to do that in March."

The economic calendar in the U.S. on Tuesday includes includes Personal Income and Outlays for June at 8:30 a.m., the S&P Corelogic Case-Shiller Home Price Index for May at 9 a.m., Consumer Confidence for July at 10 a.m., and Pending Home Sales for June at 10 a.m.

3. -- Capital One Reports Data Breach of 100 Million Customers

The alleged hacker, identified as Paige A. Thompson, was arrested by federal agents in Seattle.

The breach would be considered among the largest involving a big bank. In a press release, Capital One said the hack affected about 100 million individuals in the U.S. and about 6 million in Canada.

No credit card account numbers or log-in credentials were compromised and more than 99% of Social Security numbers were not compromised, the company said. The largest category of information accessed was information on consumers and small businesses as of the time they applied for a credit card products from 2005 through early 2019. That information would have included names, addresses, zip codes, phone numbers, email addresses, dates of birth, and self-reported income and some credit card customer and transaction data.

The company said it would notify affected customers and provide free credit monitoring and identity protection available to those affected.

Reports said Thompson is a former employee of Amazon Web Services, the cloud-computing division of Amazon.com.

The incident is expected to cost the bank about $100 million to $150 million, Capital One said.

Capital One shares fell 4.15% to $92.90 in premarket trading on Tuesday.

4. -- Beyond Meat Sinks After Announcing Secondary Offering

Beyond Meat (BYND) posted mixed second-quarter results but the stock sank in premarket trading after the plant-based meat company announced a large secondary share offering.

Beyond Meat reported a second-quarter loss of 24 cents a share on revenue of $67.3 million. Analysts had been calling for a loss of 8 cents per share on revenue of $52.7 million.

Beyond Meat shares rose in after-hours trading Monday following the release of earnings but reversed direction after the the secondary share offering of 3.25 million shares was announced.

The stock fell 12.84% to $193.61 in premarket trading.

The company said 3 million of the shares will be offered by "certain selling stockholders" while the remaining shares will be offered by Beyond Meat. The company said it plans to use the proceeds to improve production and supply capabilities as well as for marketing and promotional purposes.

Beyond Meat also lifted its revenue outlook for the year, saying it now expects sales to exceed $240 million, up from its previous guidance of $210 million. Analysts polled by FactSet were estimating full-year revenue of $221.2 million.

"We are very pleased with our second-quarter results which reflect continued strength across our business as evidenced by new foodservice partnerships, expanded distribution in domestic retail channels, and accelerating expansion in our international markets," CEO Ethan Brown said.

5. -- Huawei Says First-Half Sales Jump 23% Despite U.S. Sanctions

Huawei Technologies, the Chinese tech company that has been put on a U.S. security blacklist, posted revenue growth in the first half of the year of 23.2%, and its chairman said Washington's campaign against it has "galvanized our people."

The Trump administration in May blocked sales of U.S. components and technology needed by Huawei, the biggest global maker of network gear for phone companies and the No. 2 smartphone brand.

Sales have suffered "some impact" but Huawei has avoided disruption in shipments of smartphones, network gear and other products, Chairman Liang Hua said, adding that it's reviewing its product lineup to ensure it can fill orders without U.S. components if necessary.

"In a way, the U.S. government's pressure on Huawei has helped us understand our objectives better," Liang said. "It has improved collaboration across different departments and it has galvanized our people and reinvigorated the company."